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With a starting valuation of $4.69B in 2023, the worldwide cryptocurrency market is projected to develop from 2024–2031 at a CAGR (compound annual growth rate) of 14.5 percent.
In 2023, the total market capitalization of cryptocurrencies was more than 800 billion USD. Virtual currency, or cryptocurrency, is a form of electronic money that is decentralized and not subject to government oversight. To ensure the legitimacy of transactions, cryptocurrencies employ distributed ledger technologies like blockchain. Cryptocurrency market growth is expected to be driven by the increasing implementation of distributed ledger technology throughout the forecast period. The decline in consumer costs and exchange rates, along with the rising use of cryptocurrencies for international money transfers, is likely to drive market expansion.
The worldwide cryptocurrency market is experiencing significant growth due to a number of factors. These include the increasing need for remittances in developing nations, the need for more transparent and efficient financial payment systems, the need for better data security, and an improvement in market value. The cryptocurrency market is also being held back by the high implementation cost and the general lack of knowledge about cryptocurrencies in underdeveloped nations. Moreover, throughout the projection period, there are anticipated to be profitable opportunities for the market to expand due to the rising demand for cryptocurrencies among banks and financial institutions, as well as the unrealized potential of emerging economies.
As the demand for better software and more efficient financial payment methods increased, the hardware segment captured a larger portion of the bitcoin market. Nevertheless, the software category is anticipated to experience the most rapid growth during the cryptocurrency market forecast period. This is because software helps to manage the enormous amount of data being generated, which in turn allows for the generation of relevant insights and the making of more educated decisions.
In 2020, the Asia-Pacific region had the largest share of the cryptocurrency market, and experts predict that trend will continue throughout the forecast year. The cryptocurrency market has matured and become more competitive as a result of the proliferation of Bitcoin exchanges throughout Asia. In response to the government's push for the adoption of blockchain technology—the basis for bitcoin—to improve financial sector transparency and fight fraud, Chinese banks are actively recruiting blockchain specialists. Cryptocurrency market expansion in the area is driven by these factors.
The cryptocurrency business is anticipated to be significantly affected by recent advancements in artificial intelligence (AI). Many companies have shifted their focus to artificial intelligence research and development in response to the meteoric rise of AI-powered cryptocurrency platforms. An example of this is the artificial intelligence program that was created in August 2021 by researchers at Los Alamos National Laboratory. Its purpose is to detect and prevent the usage of laboratory computers for criminal cryptocurrency mining.
Investments from private venture firms have also been attracted to the sector by the emergence of cryptocurrencies as a decentralized asset class. Investments of USD 6.1 billion were recorded in 106 agreements within the U.S. cryptocurrency business in 2021. The rising demand for bitcoin as a substitute for fiat currency in developing nations hit hard by currency devaluations—including Iran, Argentina, and Zimbabwe—is fueling this expansion.
The market is anticipated to be driven in the next years by the popularity of virtual or digital currencies like Bitcoins, Litecoins, Ethers, and many more. Due to the convenience and adaptability of digital currency, its use is projected to increase among people in industrialized nations. The central bank backed digital currency because of how popular it is as a medium of exchange. Many wealthy nations' central banks have patented digital currency initiatives that use Central Bank Digital Currency (CBDC). The toolkit is being used by the Bank of Thailand and the Central Bank of Uruguay in their CBDC evaluation process. Other institutions that are supporting CBDC for the adoption of digital cash as an exchange medium include the People's Bank of China and the Eastern Caribbean Central Bank. The introduction of digital currency is helping a number of companies grow, including Facebook, Inc. To illustrate the point, Facebook, Inc. introduced Libra, a digital currency, in June 2019. Users will be able to use Libra to make purchases, send money to others, and withdraw funds from grocery stores and online. Furthermore, businesses can fortify their digital assets and profit from the ebb and flow of digital currency markets.
Report Coverage
Global Crypto Currency research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Crypto Currency report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Crypto Currency competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Crypto Currency market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Crypto Currency market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Crypto Currency market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
ADVANCED MICRO DEVICES, INC., BITMAIN TECHNOLOGIES HOLDING COMPANY, XAPO HOLDINGS LIMITED, LEDGER SAS, ANTIER SOLUTIONS., INTEL CORPORATION, RIPPLE, NVIDIA CORPORATION, XILINX, BITFURY GROUP LIMITED, COINCHECK, INC.
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2031. INFINITIVE DATA EXPERT has segmented the global Crypto Currency market based on the below-mentioned segments:
Global Crypto Currency Market, By Type
Bitcoin (BTC)
Ethereum (ETH)
Tether (USDT)
Binance Coin (BNB)
Cardano (ADA)
Ripple (XRP)
Others
Global Crypto Currency market, By Process
Mining
Transaction
Global Crypto Currency Market, By End User
Trading
Retail and E-commerce
Banking
Others
Global Crypto Currency market, Regional Analysis
In 2023, the total market capitalization of cryptocurrencies was more than 800 billion USD. Virtual currency, or cryptocurrency, is a form of electronic money that is decentralized and not subject to government oversight. To ensure the legitimacy of transactions, cryptocurrencies employ distributed ledger technologies like blockchain. Cryptocurrency market growth is expected to be driven by the increasing implementation of distributed ledger technology throughout the forecast period. The decline in consumer costs and exchange rates, along with the rising use of cryptocurrencies for international money transfers, is likely to drive market expansion.
The worldwide cryptocurrency market is experiencing significant growth due to a number of factors. These include the increasing need for remittances in developing nations, the need for more transparent and efficient financial payment systems, the need for better data security, and an improvement in market value. The cryptocurrency market is also being held back by the high implementation cost and the general lack of knowledge about cryptocurrencies in underdeveloped nations. Moreover, throughout the projection period, there are anticipated to be profitable opportunities for the market to expand due to the rising demand for cryptocurrencies among banks and financial institutions, as well as the unrealized potential of emerging economies.
As the demand for better software and more efficient financial payment methods increased, the hardware segment captured a larger portion of the bitcoin market. Nevertheless, the software category is anticipated to experience the most rapid growth during the cryptocurrency market forecast period. This is because software helps to manage the enormous amount of data being generated, which in turn allows for the generation of relevant insights and the making of more educated decisions.
In 2020, the Asia-Pacific region had the largest share of the cryptocurrency market, and experts predict that trend will continue throughout the forecast year. The cryptocurrency market has matured and become more competitive as a result of the proliferation of Bitcoin exchanges throughout Asia. In response to the government's push for the adoption of blockchain technology—the basis for bitcoin—to improve financial sector transparency and fight fraud, Chinese banks are actively recruiting blockchain specialists. Cryptocurrency market expansion in the area is driven by these factors.
The cryptocurrency business is anticipated to be significantly affected by recent advancements in artificial intelligence (AI). Many companies have shifted their focus to artificial intelligence research and development in response to the meteoric rise of AI-powered cryptocurrency platforms. An example of this is the artificial intelligence program that was created in August 2021 by researchers at Los Alamos National Laboratory. Its purpose is to detect and prevent the usage of laboratory computers for criminal cryptocurrency mining.
Investments from private venture firms have also been attracted to the sector by the emergence of cryptocurrencies as a decentralized asset class. Investments of USD 6.1 billion were recorded in 106 agreements within the U.S. cryptocurrency business in 2021. The rising demand for bitcoin as a substitute for fiat currency in developing nations hit hard by currency devaluations—including Iran, Argentina, and Zimbabwe—is fueling this expansion.
The market is anticipated to be driven in the next years by the popularity of virtual or digital currencies like Bitcoins, Litecoins, Ethers, and many more. Due to the convenience and adaptability of digital currency, its use is projected to increase among people in industrialized nations. The central bank backed digital currency because of how popular it is as a medium of exchange. Many wealthy nations' central banks have patented digital currency initiatives that use Central Bank Digital Currency (CBDC). The toolkit is being used by the Bank of Thailand and the Central Bank of Uruguay in their CBDC evaluation process. Other institutions that are supporting CBDC for the adoption of digital cash as an exchange medium include the People's Bank of China and the Eastern Caribbean Central Bank. The introduction of digital currency is helping a number of companies grow, including Facebook, Inc. To illustrate the point, Facebook, Inc. introduced Libra, a digital currency, in June 2019. Users will be able to use Libra to make purchases, send money to others, and withdraw funds from grocery stores and online. Furthermore, businesses can fortify their digital assets and profit from the ebb and flow of digital currency markets.
Report Coverage
Global Crypto Currency research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Crypto Currency report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Crypto Currency competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Crypto Currency market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2031 |
| Base Year | 2023 |
| Forecast Period | 2023-2031 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | ADVANCED MICRO DEVICES, INC., BITMAIN TECHNOLOGIES HOLDING COMPANY, XAPO HOLDINGS LIMITED, LEDGER SAS, ANTIER SOLUTIONS., INTEL CORPORATION, RIPPLE, NVIDIA CORPORATION, XILINX, BITFURY GROUP LIMITED, COINCHECK, INC. |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Crypto Currency Market from 2021 to 2031.
- Market Forecast for Crypto Currency Market from 2021 to 2031.
- Regional Market Share and Revenue from 2021 to 2031.
- Country Market share within region from 2021 to 2031.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Crypto Currency competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Crypto Currency
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Crypto Currency market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Crypto Currency market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
ADVANCED MICRO DEVICES, INC., BITMAIN TECHNOLOGIES HOLDING COMPANY, XAPO HOLDINGS LIMITED, LEDGER SAS, ANTIER SOLUTIONS., INTEL CORPORATION, RIPPLE, NVIDIA CORPORATION, XILINX, BITFURY GROUP LIMITED, COINCHECK, INC.
Primary Target Market
- Market Players of Crypto Currency
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2031. INFINITIVE DATA EXPERT has segmented the global Crypto Currency market based on the below-mentioned segments:
Global Crypto Currency Market, By Type
Bitcoin (BTC)
Ethereum (ETH)
Tether (USDT)
Binance Coin (BNB)
Cardano (ADA)
Ripple (XRP)
Others
Global Crypto Currency market, By Process
Mining
Transaction
Global Crypto Currency Market, By End User
Trading
Retail and E-commerce
Banking
Others
Global Crypto Currency market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
About This Research
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Through INFINITIVE Data Expert is a professional Market Research services, I will identify the crypto currency market market size, demand & opportunities, growth rate, and target audience with a comprehensive analysis of your competitors.